By on March 23, 2020

With the way China organized its great leap forward into electrification, we knew it would bury hundreds of automotive startups in the process. By propping up countless businesses, China ensured it could boast more new EV manufacturers than any other nation on the planet. Yet most  industry watchers presumed there would be a low survival rate once these fresh firms attempted to transition into legitimate automakers. Some analysts predicted only 10 percent would still be in operation by 2023, while others said 1 percent was probably more realistic.

While this trial by fire seemed poised to weed out lesser-known companies, we’ve seen major players struggling of late. One of them is NIO — a company broadly viewed as a Tesla rival, but which is probably most famous for building the EP9 electric hypercar that traveled the globe to smash EV records in 2017. NIO had a tough 2019, posting a $479-million loss during the second quarter and announced the elimination of 2,000 employees — that’s after it sold its Formula-E team, closed an office in California, abandoned at least one planned factory, and ditched one new model mid-development.

The company now openly acknowledges that it might not survive through 2020.  (Read More…)

Recent Comments

  • Jeff S: You mean you don’t like Kanye West?
  • Jeff S: @EBFlex–You are too busy wining about things to have an interest in cars.
  • stuki: “Ah liberals. Taking from you what they think you shouldn’t have and destroying it. A microcosm of what...
  • rcousine: In much of Canada, yes, but let me tell you about the magical West Coast… Vancouver (and Victoria) don’t...
  • stuki: It’s America. In the Age of Incompetence. New York, even. The single most concentrated mass of nothing...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber